The Consumer Credit Act 1974 is a consumer protection law that requires businesses that offer goods or services on credit or who lend money to consumers to be licensed by the Office of Fair Trading. The Act also sets out requirements about the form and content of credit agreements and credit advertising.
Secured loans under £25,000 are usually regulated by the Consumer Credit Act.
Think Carefully Before Securing Other Debts Against Your Home. Your Home May Be Repossessed if You Do Not Keep Up Repayments On A Mortgage Or Other Debt Secured On It.
